New Year’s Eve Sees Bitcoin Network Break Daily Transfer Record With Over 731,000 Transactions

New Year’s Eve Sees Bitcoin Network Break Daily Transfer Record With Over 731,000 Transactions

As 2023 drew to a close on New Year’s Eve, the Bitcoin network eclipsed yet another record by verifying a significant 731,351 transactions in a single day. This achievement outstripped the previous high set on Dec. 24, 2023, or Christmas Eve, where miners confirmed a total of 723,459 transactions.
Bitcoin Ends 2023 With Record-Breaking 731K Transactions
The year 2023 saw a series of benchmarks surpassed in Bitcoin’s network and onchain activities as both the mining difficulty and hashrate soared to unprecedented levels, alongside a daily increase in transaction confirmations. On the cusp of the new year, miners cemented a record with 731,351 transactions verified on Dec. 31, 2023, largely propelled by Ordinal inscriptions.

On the same day, 314,003 inscriptions were processed, making up roughly 42.93% of the total transactions confirmed on Sunday. Meanwhile, bitcoin miners experienced a notably lucrative fee market in December. Despite breaking the daily onchain transfer record on

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